Property values may be climbing to untenable heights here on the east coast of Australia, particularly in Sydney, but that certainly isn’t the case everywhere. New York City, for example, has been sucking for air this year after copping a sizeable gut punch in the wake of COVID-19. Hence why prolific footballer and harbinger of soft drink market caps – Cristiano Ronaldo – is preparing to offload his Trump Tower apartment at a painful US$10.75 million (AU$14.28 million) loss.
The entire saga of Cristiano Ronaldo and his Trump Tower pad has been going on for some time now. Initially purchased in 2015 for a reported sum of US$18.5 million / AU$24.6 million, it was soon relisted on the market for just US$9 million / AU$12 million in 2019 after fans signed a petition urging the Portuguese superstar to distance himself from former President Donald Trump. The ongoing pandemic and a lack of offers torpedoed the price even further.
Despite the lofty purchase price, a quick glance of 2,500-square foot three bedder will prompt questions as to why anyone would have ever been willing to fork out that much cash for a joint like this. Designed by Juan Pablo Molyneux, the maximalist interior borders is one which many have noted borders on the gaudy. No amount of 360-degree views could fix this. Of course, aesthetics cannot take all the credit for Ronaldo’s latest L.
According to Insider, Trump-branded Manhattan properties as a whole have lost over 20% of their value since 2017 due to “how radioactive” the very name has become since the ex-Commander in Chief’s “tumultuous one-term presidency.” By comparison, the greater Manhattan area has sustained an average price-per-square-foot of just 9%… or as the man himself would claim, old mate Donny has once again outperformed the market.
Suffice it to say, this is the worst trade deals in the history of trade deals – check out the Cristiano Ronaldo Trump Tower Manhattan apartment below.